New Delhi: Prime Minister Narendra Modi and Bangladesh Prime Minister Sheikh Hasina signed three memorandums of understanding (MoUs) Friday, including one focused on facilitating Unified Payments Interface (UPI) transactions between the two countries in the currencies of both nations — rupee and taka — said statements issued both by the Bangladesh foreign ministry and India’s Press Information Bureau (PIB).
After holding bilateral talks at Modi’s New Delhi residence, at 7, Lok Kalyan Marg, the two leaders signed MoUs on issues ranging from cooperation on agricultural research and education between the Indian Council of Agricultural Research (ICAR) and Bangladesh Agriculture Research Council (BARC), to the renewal of the Cultural Exchange Programme (CEP) between India and Bangladesh for 2023-2025.
The third MoU, on digital payment cooperation between the National Payments Corporation of India (NPCI) and Bangladesh Bank, sought to facilitate UPI transactions between the two countries.
Bangladesh joins a long list of countries including Nepal, France, Bhutan, Singapore, UAE and Mauritius, who have agreed to use the NPCI-developed UPI system, which allows cross-border payments using Indian bank accounts.
Bangladesh’s PM Hasina arrived in New Delhi Friday, ahead of the 18th G20 Leaders’ Summit, being hosted by New Delhi over the next two days. Bangladesh is one of the many countries, including Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain, and the United Arab Emirates, India has invited to participate in the Summit this year, being held under its presidency.
Modi also met Mauritius PM Pravind Kumar Jugnauth Friday, discussing subjects related to infrastructure, financial technology (FinTech), and culture. The leaders also marked 75 years of diplomatic ties between the two countries, said a statement released by India’s Ministry of External Affairs (MEA).
According to reports, Modi is expected to hold more than 15 bilateral meetings over the next three days, including with the leaders of the UK, Japan, Germany, Italy, Turkiye, the UAE, South Korea, EU, Brazil, and Nigeria, besides a working lunch with French President Emmanuel Macron and a pull-aside meeting with Canadian Prime Minister Justin Trudeau.
Building ties
In addition to signing the three MoUs, Modi and Hasina also discussed issues related to border management, connectivity, diversifying ties, water resources, power, culture and people-to-people relations, said an MEA statement.
It added that the two leaders welcomed the operationalisation of the agreement on the use of the Chattogram and Mongla Ports, as well as the commissioning of the India-Bangladesh Friendship Pipeline. To further improve ties between the two countries, the leaders said they looked forward to the eventual inauguration of the Agartala-Akhaura Rail Link between India and Bangladesh, Unit-II of the Maitri Power Plant and the Khulna-Mongla Rail Link.
“They [PM Modi and PM Hasina] looked forward to the beginning of negotiations on the Comprehensive Economic Partnership Agreement (CEPA), covering trade in goods, services, and protecting and promoting investment,” the statement added.
According to reports in Bangladesh media, Saima Wazed, Hasina’s daughter and chairperson of the Bangladesh National Advisory Committee on Autism and Neurodevelopmental Disorders, also presented a souvenir to PM Modi.
Meanwhile Jugnauth, after arriving in Delhi, also reportedly held a meeting with India’s External Affairs Minister S. Jaishankar Thursday, during which the two countries reaffirmed their efforts to take this “special relationship’ forward.
The Mauritian leader highlighted India’s commitment to the African nation, emphasising on the significance of Comprehensive Economic Cooperation and Partnership Agreement (CECPA), signed between New Delhi and Port Louis in 2021.
“The Comprehensive Economic Partnership Agreement (CEPA) is another testimony of the consideration that India has for Mauritius. This has now opened up new avenues for trade between the two countries…It is beneficial to both countries”, Jugnauth was quoted as saying in the media Thursday.
(Edited by Poulomi Banerjee)
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